Introduction to MIS
What do we train people to do in MIS?
Use Technology to solve day-to-day business problems
How does a TPS make the sales process more efficicent?
It allows for money to be exchanged for goods and services more efficiently.
What is a data silo? Why are they not efficient?
Data silos occur when relevant information or data is stored within one department and not shared among the corporation. They often slow down communication and business processes.
What are immersive technologies?
The technologies used by XR include VR, AR, and MR.
MIS professionals view the world as a collection of systems. What does this include?
The people who use the systems, the processes used to build the solutions & the technology that the systems are built on.
What is DSS and how is it used?
Decision Support System: Used to help make sense of a lot of information and make complex decisions (ex: airlines preventing problems/crashes with info loads)
What are 3 cons of using an ERP system? Explain them.
Cost, Learning Curve, Maintenance Costs
What is V2X (vehicle-to-everything) technology?
It enables each car’s sensors to be networked with other vehicles and other associated sensors to improve driver awareness.
What are the differences between MIS and CS?
MIS uses technology to solve business problems and CS focuses on software engineering, creation and programming
What is the benefit of using ITPS (AI) to predict fraud?
AI can recognize patterns, i.e. frequent purchases, locations, times, to see when there is a deviation.
If a company does decide to implement an ERP, what are some key goals they should consider?
They'd want to have one integrated system with one copy of data. This helps with reducing time checking and redundancies, and makes much more informed decisions across departments.
What are the advantages and disadvantages of low-code and no-code programming?
People with little or no programming experience can learn to build applications, etc.
Limited customization.
What is MIS?
Management Information Systems are designed to support decision-making, coordination, control, analysis, and visualization of information within an organization. The ultimate goal of an MIS is to increase the value and profitability of the business by providing managers with timely and relevant information for informed decision-making.
What are EIS's 5 major categories and explain the function of one of them?
Financial Management, Operations Management, Marketing, Human Resources Management (HRM), Supply Chain Management (SCM).
What are most ERP systems offered as? Why is it more beneficial?
Cloud-based ERP's are more popular. They allow for 24-hour access with from any place in the world.
How are Internet of Behaviors (IoB) and Internet of Things (IoT) related to one another?
it is extension of (IoT), where not only are devices connected to the internet, but the data collected by these devices is used to understand and predict human behaviors and interactions.
What did Peter Drucker mean when he said, “Do what you do best and outsource the rest”?
The business unit should identify the areas where it is most proficient and utilize third party providers (consultants) to support the areas where the business is less proficient.
What effect does SCM software help prevent and why is it important?
How do Financial Management Systems help businesses when combined with ERP?
Increases speed and efficiency, maintains compliance and tax liabilities, and measure cashflows
How can digital immune systems protect against cyberattacks?
Responds to threats in real time using cutting-edge algorithms and machine learning to address and adapt to threats as they develop. It blocks the source of attacks or launches countermeasures.